Watch List notes:

PAPAL STATES: Leo XIII, 1878-1903, AR medal (35.08g), 1885, Montenegro-62, 44mm silver medal for the Pope's Arbitration of the Conflict between Germany and Spain on the Carolinas Islands by Biancchi, anno X, bust left with LEO.XIII.PONT. MAX.ANNO.X around // the Church with Germania to left and Spain to right with CONTROVERSIA.DE.INSVLIS. KAROLINIS. EX.RQVITATE.DIREMPTA. around and PACIS.ARBITRA / ET.CONCILIATRIX / MDCCCLXXXV in exergue, hairlines, a few minor rim nicks, some toning, plain edge, EF.

Estimate: 120-150 USD